Superconducting Materials Market to Reach  Billion by 2030, Says Global Market Insights Inc.

Superconducting Materials Market to Reach $18 Billion by 2030, Says Global Market Insights Inc.

Global Market Insights Inc.

Global Market Insights Inc.

The growth of the superconducting materials industry is driven by increasing per capita income, booming electronics demand, expanding medical industry, and rapid technological evolution, says this report.

Selbyville, Delaware, Sept. 19, 2022 (GLOBE NEWSWIRE) — According to the report published by Global Market Insights Inc., the global superconducting materials market a valuation of around $18 billion is expected to be recorded by 2030. The report provides a detailed analysis of the key winning strategies, competitive scenario, lagging market trends, market size and estimates, drivers & opportunities, and major investment pockets.

Superconductor materials have various applications due to their high-speed operation capability, low power dissipation, and high sensitivity. These factors contributed to the use of superconductor devices in electric motors and magnetic products. These materials allow the smooth flow of electrical current at low temperatures, which has also increased the adoption of products in healthcare, automotive, research & development, and electronics, among other sectors. Moreover, the production of electronic products and power grid components has increased in several countries, such as China, India, and others, and is expected to drive the growth of the superconducting materials market in the coming years.

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The significant advantages of superconducting materials, namely, low dissipation, distortion, and quantum precision have made them suitable for use in electronic products. The growing electronics industry in Asia Pacific and North America would drive product adoption. Due to these factors, the electronics end-user segment is expected to grow at a growth rate of over 9.5% CAGR over the forecast period.

On the other hand, the research & development end-user segment is slated to gain significant traction through the assessment time frame due to intensive improvement in technologies with the use of superconducting materials. Superconducting products are helping modern scientific research facilities develop a wide range of novel technologies, from nuclear fusion to advanced computing faster than silicon technology, which is likely to boost demand for separators.

Key reasons for the growth of the superconducting material market:

  1. Impact on research & development activities.

  2. Application of surge products in the electronics sector.

  3. Increased demand for low temperature superconducting materials.

  4. Widespread use in the automotive industry in Europe.

Forecasts for 2030 show that the ‘low temperature’ segment maintains its dominance:

Based on product, the superconducting materials industry share from the low temperature segment is expected to grow at approximately 8.5% CAGR through the estimated timeline. Widespread application of low-temperature materials, for example in medical imaging machines and electrical power transmission, as well as increased awareness of the benefits of these materials in the market, is poised to bolster segment expansion.

Europe will continue its top status in terms of income:

In the regional context, the superconducting materials market in Europe is likely to show more than 8.6% CAGR over the review timeline. Technological advances and the increased use of electric vehicles have had a positive impact on the electronics industry in the region. Superconducting materials are speculated to be prominently adopted in electronic devices to boost regional market outlook.

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The impact of the COVID-19 pandemic on the super launch content market:

The outbreak of COVID-19 has reduced industry revenue growth mainly due to disruptions in the global supply chain and significant effects on the automotive sector. The decline in the manufacturing of electronic devices among greens has also had a negative impact on the growth of the market. However, innovation and product development have progressed positively due to the easing of green restrictions and the advent of new technologies.

Key market players:

Major companies worldwide analysis superconducting materials industry The report includes American Superconductor, Superpower Inc., Evico, Can Superconductor, Brucker, Nexans, Superconductor Materials Inc., Advanced Magnetic Lab Limited, Hitachi, and others.

Under Global Market Insights

Global Market Insights Inc., headquartered in Delaware, USA, is a global market research and consulting service provider offering syndicated and customized research reports along with growth consulting services. Our business intelligence and industry research reports provide clients with insightful insights and actionable market data that are custom-designed and presented to assist in strategic decision-making. These comprehensive reports are designed using proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

CONTACT: Contact Us: Aashit Tiwari Corporate Sales, USA Global Market Insights Inc. Toll Free: +1-888-689-0688 USA: +1-302-846-7766 Europe: +44-742-759-8484 APAC: +65-3129-7718 Email: sales@gminsights.com

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